The council unanimously adopted a development agreement with Dubuque Initiatives 1700 LLC covering 1739 and 1763 Central Avenue. The nonprofit subsidiary will develop seven housing units and pursue rehabilitation on the two parcels as part of the Central Avenue corridor revitalization.

Assistant economic development director Ian Hatch outlined the incentives: the city will provide housing creation grants up to $70,000, low-income housing assistance grants up to $70,000, and downtown rehabilitation grants of up to $35,000 for 1739 Central and up to $25,000 for 1763 Central (1763 previously received a $10,000 facade grant). The agreement includes 15 years of tax increment financing rebates on both parcels; city staff will amend the Greater Downtown Urban Renewal District plan to accommodate the incentives.

The developer must begin construction by Oct. 1, 2025, and complete by Dec. 31, 2026, per the agreement. Hatch noted Dubuque Initiatives’ prior role in downtown investment and that the organization is positioned to undertake challenging projects that private developers may not immediately pursue. The motion to adopt the resolution passed 7-0 (motion by Jones, second by Wethal).

Staff will track milestone dates required by the agreement and process the grant disbursements and TIF rebates as prescribed.